PRIMAVERA PROPERTIES (UK) LTD


Director	Alexander Oddie


Registered Address	229 South Park Road
	London
	SW19 8RY


Registered Number	04627898 (England and Wales)

Balance Sheet as at
31 March 2025

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	3		3,601,044		3,608,772
			3,601,044		3,608,772
Current assets
Debtors		1,708		1,545
Cash at bank and on hand		6,374		3,879
		8,082		5,424
Creditors amounts falling due within one year	4	(38,414)		(24,624)
Net current assets (liabilities)			(30,332)		(19,200)
Total assets less current liabilities			3,570,712		3,589,572
Creditors amounts falling due after one year	5		(1,563,916)		(1,574,304)
Provisions for liabilities	6		(4,948)		(7,856)
Net assets			2,001,848		2,007,412
Capital and reserves
Called up share capital			354		314
Revaluation reserve			1,882,514		1,882,514
Other reserves			30		30
Profit and loss account			118,950		124,554
Shareholders' funds			2,001,848		2,007,412

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Director on 11 November 2025, and are signed on its behalf by:

Alexander Oddie
Director
Registered Company No. 04627898

PRIMAVERA PROPERTIES (UK) LTD

Notes to the Financial Statements
for the year ended 31 March 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Revenue from sale of goods
	Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Revenue from sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Employee benefits
	Contributions to defined contribution plans are expensed in the period to which they relate.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:


		Reducing balance (%)
	Plant and machinery	15
	Vehicles	25

2.	Average number of employees


		2025		2024
	Average number of employees during the year	1		1

3.	Tangible fixed assets

	Land & buildings	Plant & machinery	Vehicles	Total
	£	£	£	£
Cost or valuation
At 01 April 24	3,575,000	49,340	65,928	3,690,268
Additions	-	699	-	699
Disposals	-	(1,229)	-	(1,229)
At 31 March 25	3,575,000	48,810	65,928	3,689,738
Depreciation and impairment
At 01 April 24	-	45,741	35,755	81,496
Charge for year	-	490	7,543	8,033
On disposals	-	(835)	-	(835)
At 31 March 25	-	45,396	43,298	88,694
Net book value
At 31 March 25	3,575,000	3,414	22,630	3,601,044
At 31 March 24	3,575,000	3,599	30,173	3,608,772


	Included within the net book value of land and buildings above is £3,980,000 (2021 - £3,575,000) in respect of freehold land and buildings. Revaluation The fair value of the company's Property was revalued on 31 March 2022. An independent valuer was not involved. The properties were revalued using the Halifax price index. . Had this class of asset been measured on a historical cost basis, the carrying amount would have been £1,588,596 (2022 - £1,588,596).

Included within the net book value of land and buildings above is £3,980,000 (2021 - £3,575,000) in respect of freehold land and buildings.

Revaluation
The fair value of the company's Property was revalued on 31 March 2022. An independent valuer was not involved. 
The properties were revalued using the Halifax price index. .
Had this class of asset been measured on a historical cost basis, the carrying amount would have been £1,588,596 (2022 - £1,588,596).

4.	Creditors: amounts due within one year

	2025	2024
	£	£
Bank borrowings and overdrafts	3,885	2,418
Amounts owed to related parties	812	116
Taxation and social security	24,863	13,125
Payments received on account	7,122	7,596
Accrued liabilities and deferred income	1,732	1,369
Total	38,414	24,624


	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

5.	Creditors: amounts due after one year

	2025	2024
	£	£
Bank borrowings and overdrafts	1,563,916	1,574,304
Total	1,563,916	1,574,304

6.	Provisions for liabilities

	2025	2024
	£	£
Net deferred tax liability (asset)	4,948	7,856
Total	4,948	7,856